There are no prerequisites.

Course Description

Tax & Financial Planning for Retirement integrates two important topics: federal taxation and retirement planning. Designed to improve the quality of services to clients and the profitability of engagements, this course projects the accountant into the world of retirement planning. You'll gain valuable insight into analyzing problems, developing solutions, and presenting final personal retirement plans to clients.

The materials examine tax and savings strategies related to determining retirement income needs, wealth building, capital preservation, and estate distribution. A special emphasis is placed on practical simplicity in dealing with the self-employed and highly compensated individual. The end result is a unified explanation of tax-economics that will permit the tax professional to locate, analyze, and solve financial aspects of retirement.

*Please note that some of the material in this course is also covered in Introduction to Financial Tax Planning.


Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known for spicing up his extensive expertise with an incredible sense of humor.

Course Specifics

May 2, 2017
There are no prerequisites.

Compliance Information

IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-T-00636-14-S
IRS Federal Tax Law Credits: 23
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-0654
CTEC Federal Tax Law Credits: 23
Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify short-term financial goals, investment purposes, realistic goals, and investment allocation based on investor's age
  • Recognize the tax consequences of title holding methods including ways to hold title to assets; the tax benefits and drawbacks of co-tenancies, corporations, partnerships, qualified retirement plans, and trusts; custodianship under the uniform acts; and how an estate can be tax beneficial to taxpayers
  • Recognize the impact of retirement planning postponement, the steps involved in early planning, planning for retirement using the balance sheet method, portfolio diversity, and the purpose and strategies of saving

Chapter 2

  • Recognize the goals and components of money management, the causes of increased taxable income for itemizing taxpayers, and taxable income types and their proper reporting
  • Identify the characteristics of tax-free municipal bonds and fringe benefits in generating tax-free income, the benefits of tax deferral, and tax-deferred investments
  • Specify several ways to shelter income and how income sheltering amplifies investment return
  • Recognize the process of budgeting income into cash, strategies to diffuse a negative outlook on budgeting, how to convert income into assets by purchasing investments, and asset acquisition rules to follow for improved investment return
  • Identify major tax-advantage investments that follow basic management rules, and the economic impact of accelerating deductions, postponing tax liability, and leveraging

Chapter 3

  • Recognize various spending habits, how to design a budget to increase discretionary income, the use of a balance sheet to determine net worth, and the process of selecting assets and liabilities for an inventory on which to base financial goals
  • Recognize the reasons that individuals should take primary responsibility for their investment planning, the allocation of financial resources among investments to maximize return, and the impact of inflation, risk versus return, and basic income tax planning tactics

Chapter 4

  • Identify the benefits of tax deferral, the former use of tax deferral under §1034, and the deferral advantage under §1031
  • Recognize related party §1031 restrictions, recommendations for the protection of exchange participants, the history of personal and multiple property regulations, and the unique personal property like-kind and netting requirements for multiple asset exchanges
  • Recognize the evolution and requirements of §1031 delayed exchanges, the selection of qualified replacement property, constructive receipt safe harbors, methods to secure exchange party performance, and the §1031 partnership underlying asset rule
  • Identify retirement plan design, popular methods for providing for retirement, and near retirement investments
  • Recognize the requirements for an installment sale, the requirements to elect out of the installment method, variables that affect §453 availability, and the use of a property option to receive income and postpone tax

Chapter 5

  • Identify tax saving credits, qualified computational expenses, limitations, and restrictions
  • Recognize the estimated tax rules and procedures, the economics of overpaying estimated taxes, and the types of interest that are nondeductible under §163(h)(1)
  • Determine the deductibility of investment interest, prepaid interest, points, and prepayment penalties, and offset passive income with rental property mortgage interest
  • Identify business vehicle operating costs using (or switching between) the actual cost method or the standard mileage rate, substantiatable expense and mileage records, and depreciation traps when purchasing a vehicle
  • Recognize the requirements for business expenses to meet the directly related test, the elements of the associated test, business expense statutory exceptions, and the application of R.R. 90-23 and R.R. 99-7 to the deduction of transportation costs to a temporary work location
  • Recognize business asset depreciation using both ACRS and MACRS recovery classes, sources of §172 net operating losses (NOLs), tax breaks for nonitemizing taxpayers, the advisability of filing an amended return, and which return amendments are safest 

Chapter 6

  • Recognize formats for income splitting, the tax treatment of employee and self-employed business expenses, changes to the home office deduction under TRA '97, and the ability of self-employeds to make annual deductible contributions to a Keogh plan
  • Identify the tax opportunities available to an unincorporated business including retirement plans, the hiring of family members, travel expenses, casualty losses, bad debts, and self-employment tax
  • Identify the uses and tax characteristics of regular and S corporations including circumstances when incorporation is desirable, taxation and the ability to split income, initial §351 formation and capitalization issues, and appropriate tax form filings for each entity
  • Recognize the use of partnerships to split income among partners including the use of §704(e) family partnerships and the consequences of gifting a partnership interest to a child or to another family member
  • Identify the use of a custodianship to split income and contain the kiddie tax including initial planning considerations and examples of good investments for children; deductions and credits for childcare, education, children, and §7872 loans; and income and estate tax benefits of gifts

Chapter 7

  • Identify tax elimination techniques applicable to the current §121 home sale exclusion, qualifications for tax-free state or local obligations including private activity bonds, and the tax elimination aspects of family transactions such as gifts, bequests, inheritances, life insurance, and divorce
  • Recognize the use of employer deductions as a tool to increase tax-free incentive-based compensation for employees including rules for excluding fringe benefits under §132 and their proper reporting on the W-2
  • Identify popular employee fringe benefits such as employer paid accident & health coverage, meals or lodging, cafeteria plan benefits, §127 education assistance, achievement awards, group life insurance, and dependent care assistance
  • Recognize how to value fringe benefits according to IRS regulations and comply with ERISA requirements, the proper reporting of reimbursed and unreimbursed business expenses, how to substantiate auto expenses, and eligible retirement benefits that are exempt from social security taxes

Chapter 8

  • Identify components of estate planning for business clients including elements of estate tax planning that have remained unchanged by recent legislation, the unlimited marital deduction and its effect on the gross estate of the value of property, and the definition of applicable exclusion amount
  • Recognize the requirements and differences between the 'stepped-up basis' and the repealed 'modified carryover basis' for estate tax purposes
  • Identify the basic estate-planning goals, and the benefits and drawbacks of primary dispositive plans
  • Identify the various types of estate trusts and their elements, family documents that every taxpayer should consider, and advantages and disadvantages of the former private annuity format

Chapter 9

  • Identify the goals and purposes of asset protection, objections regarding shielding assets from creditors, situations that can unexpectedly put assets and financial security at stake, sources of lawsuits, exploding and imploding liability, asset placement, and statutory protections
  • Recognize the importance of creditor types associated with asset protection and fraudulent transfers
  • Specify fraudulent transfer laws, including badges of fraud, statutes of limitations, criminal penalties, and permissible asset transfers
  • Recognize the degree and necessity of asset protection using net worth and asset values under a balance sheet
  • Identify the ways that insurance and buy-sell agreements can offer asset protection, potential reasons for establishing an irrevocable life insurance trust, and what constitutes entity purchase and cross purchase buy sell agreements
  • Recognize the asset protection aspects, advantages, and disadvantages of ownership formats and entities
  • Identify the formats that courts typically follow if a couple does not have an enforceable premarital agreement, what constitutes a post-nuptial and premarital agreement, and how these agreements relate to divorce settlements and divisions

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Online Access

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online access
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hard copy
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